(70 ILCS 1830/39)(from Ch. 19, par. 539)Sec. 39. The Board shall appoint a secretary and a treasurer, who need not
be members of the Board, to hold office during the pleasure of the Board,
and fix their duties and compensation. Before entering upon the duties of
their respective offices each shall take and subscribe the constitutional
oath of office, and the treasurer shall execute a bond in the amount and
with corporate sureties approved by the Board. The bond shall be payable to
the District in whatever penal sum is directed by the Board, conditioned
upon the faithful performance of the duties of the office and the payment
of all money received by him according to law and the orders of the Board.
The Board may, at any time, require a new bond from the treasurer in such
penal sum as may then be determined by the Board. The obligation of the
sureties shall not extend to any loss sustained by insolvency, failure or
closing of any savings and loan association or national or State bank
wherein the treasurer has deposited
funds if the bank or savings and loan association has been approved
by the Board as a depositary for these
funds. The oaths of office and the treasurer's bond shall be filed in the
principal office of the Port District.(Source: P.A. 83-541.)